18:00 Wed 25 Mar 2020
McBride PLC - COVID-19 Update
COVID-19 Update
Since early March, the Group has seen order levels across most regions increase for a range of products such as bleach, anti-bacterial and disinfecting sprays and certain dish and laundry cleaning products. At this stage, it is not clear to what extent this demand increase is due to additional end-user consumption or short-term consumer stockpiling.
The Group's factories remain open and operating at varying levels of production. Our ability to operate at full production is constrained by labour attendance, certain material supplies and, increasingly, distribution challenges for both inbound and outbound materials. At this time excess demand levels are being met for the most part from a combination of inventory and choices of production priorities.
As
Revenue improvements in the short term are likely to be tempered by reduced factory efficiencies, although we expect to see some benefit from lower raw material input costs in the fourth quarter, dependent on activity levels and product mix. We are actively limiting discretionary spend, postponing or cancelling capital projects and closely monitoring working capital levels. At this time, and in light of the factors outlined above, we are unable to offer any update on guidance for the current financial year.
The Group has
Our amazing teams are working tirelessly to ensure we satisfy demand levels and we are grateful for the flexibility our customers and suppliers are affording at this time. We remain determined to provide our customers and consumers with quality products to deliver hygienic home and work environments.
For further information please contact:
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0161 203 7570 |
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0161 203 7570 |
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020 3727 1017 |
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